 Dogecoin is up 184% in the last 24 hours. Beyond that, it is up 453% in the last seven days. What the fuck is going on? Today we are talking about this dip that we have seen in the last few hours and the bounce. So remember I said on a breakout, there was a case scenario where we could go back down and we test this zone. That's exactly what's happened today. But for some reason, even though we've hit all time highs literally this week, everybody's calling for the end of the bull run now. They're calling for the end when in actuality, historical data suggests that we're still rather early in this cycle. But there is a pattern on the Bitcoin chart that I want to show you guys today to be prepared. So stay tuned guys, you don't wanna miss it. Hey, what's up? Jay here and welcome to Bitcoin Daily, bringing you guys the best tips, tutorials and ideas to help you guys become profitable and successful investors. The goal of this channel is to empower you guys with the knowledge and resources to put it all together and take you up to that next level. So if you guys are new here, make sure to hit that subscribe button and turn on the notification bell. Then after you've done that, smash that like button to help us out with that YouTube algorithm. Alrighty guys, so the first thing we're gonna touch on is the recap from the trades we gave you guys on Monday's video. So the first trade that we gave you guys in Bitcoin was a breakout above $60,000. So $60,000 here was the entry. Guys, this ran up all the way to $65,000 for a new all-time high. If you would have entered that trade, you would have done about 80% if you used 10x leverage. The second trade that triggered up from Monday's video was that 62K entry. So that was right around here. Look at this big green candle. Remember that we told you guys that a break of 62K, a break above all-time highs are our favorite, favorite entries because there's just so much momentum. Look at this candle and look at this, the volume on this candle. So that went all the way up to 65 as well. And you would have done about 48% profits on that trade if you use 10x leverage. In Ethereum, guess what guys? Look at the targets that we hit. Remember we told you guys, what target did we tell you guys on Monday? On a Monday, we were right here. This is where we were on Monday. What was our target Monday? 2,500 guys, we did it. We went all the way up to 2,550. So not only did we smash this target that we had put in a couple weeks ago, but we smashed our newest target that we put in on Monday. So if you guys entered our 2,150 entry and rode that up to the all-time highs, you would have done around 90% profits if you use 5x leverage. If instead you decided to go with the safe route and use 2,200 as your entry, you would have still done 80% profits if you use 5x leverage. So an amazing trading week overall, we hit all-time highs in not only Bitcoin and Ethereum, but in a lot of other outcoins as well. If you guys missed our trade setups for Monday's video, then stick around so you can see the trade setups that we're gonna give you for the weekend. So why is Bitcoin down today? So Turkey decided to ban cryptocurrency payments. They cited excessive volatility and lack of regulation as reasons for the ban. They also added that digital wallets can be stolen or used unlawfully and that transactions were irrevocable. So because of that, Bitcoin dropped down all the way down to about that $60,000 area where we had this support that we spoke about before. Since then, we have definitely seen a bounce here. As you guys can see, they'll pass eight hours. We've had two green candles. So basically the central banks, of course, as expected are trying to fight back as they're losing grip in the currency wars. Now Turkey isn't the first one to make this type of decision. India is reportedly set to propose a law banning cryptocurrencies and making, trading, or even holding assets punishable with a fine. Guys, this is to be expected and unfortunately these countries that try to do this are gonna get left behind. It's gonna end up doing more damage than good in the long run. All right, so let's take a look at this Bitcoin chart. As you can see here in the four hour, basically we had this breakout to new all-time highs like we spoke about on Monday's video and that ran up all the way to 65K. Basically just how we said. Now you guys already know that our target is gonna be $70,000, but that there were pit stops along the way. It's not just gonna be a straight shot to 70. So here's our first pit stop was 65 and now we're going back to retest the top of this where we broke out which was that flat top ascending triangle pattern. So there's the retest. Now this could help boost us up to shoot beyond basically slingshot us back up to previous all-time highs and a break above this previous all-time high could possibly slingshot us to that $70,000 range. So I know a lot of people were freaking out today like they do every day that we have a red day but it's not as bad as people are making it seem. Guys, we just hit all-time highs two days ago. So how are you calling for the end of the bull cycle? We have good support here at 60K. In the event that we went below 60K then we're possibly looking at around 58, 50 and 56K to be those next support levels. So that's pretty much what I'm looking at this weekend. Now for the kind of a bigger picture aspect, I wanna show you guys something that I've been watching closely here and it's a pattern that's been on the Bitcoin chart. So if we zoom out to the daily you're gonna notice something, right? So notice that I circled and what I have circled, it's all dips, right? So this is a dip, this is a dip and if you start going back in the months you see dips, right? I circled some, a few dips. Now what do these all have in common? So let's take a look at the date that this dip happened. So this dip right here in March looks like it started around the 14th, right? It kinda went back up and then on the 21st is when it's had a pretty big dip. So on March 21st is when we started having that big dip until March 26th which is the day that the option contracts expired. So if we look back into February we'll notice, look at this, the 21st, the 22nd, February 22nd had the huge dip and ended up, it ended on the 28th. So on March 1st we had our first green candle again that took us back up to the top. If we go further back and we look at January you'll see January 15th we had the red candle and then if we look at January 21st, look at that big red candle, 13% drop on January 21st. After the option expiration is when again we took off. We, if we continue back we're gonna just keep seeing the same thing. December 21st, 3% drop. So we had a red candle there, we had a red candle the day before and we're just kind of consolidating there. If we go further back in November, November 21st was pretty much a flat day then the 22nd was red, 23rd was red, the 25th was red and then the 26th was 8%, 8.5% drop on the 26th. Until the 28th we didn't start recovering from that. So in October is the only time that we actually had on that day, the 21st we had a green day and it went up and those days didn't affect but there was still more volatility on the 21st than the rest of the month, if you notice here. That was the biggest jump of the month. If we go further back into September you'll see that in September on the second half of the month, again, things slowed down and on the 21st we had another 4.5% drop. We have two red candles back to back on the 20th and the 21st had another one on the 23rd and then it looks like after the 20, really after the 7th, after the beginning of October is when it started to recover. And the last month that we're gonna look at in August if you look here in August you'll see that starting on the 18th we had red days and on the 21st we also had a red day and it basically didn't until about the 20th after the 25th. July was fine during that time but even if you look back in June, June we also had red days during that period during that same week. Even in May on the 20th and the 21st we were red on the 24th we were red. So you can see towards in that specific week it seems that we always have a dip. All these big dips that we see here have come during a specific time of the month and it's been specifically that third and fourth week. So notice today is the 16th. So what I'm thinking here if we continue with the same pattern that we've been seeing every single month, right? Next week we could potentially see some volatility and potentially a drop from current prices. And then if history continues to repeat itself the week after that then we should see prices rebound and go back up. So next week there's a possibility to have a red week where we can see some consolidation and some pullbacks. And then the following week I'd expect to see a rebound. Now the tricky thing with this is the Bitcoin options expiration contracts expire this month on the 30th. So literally the last Friday of the month. If you look here you can see the open interest by strike in the Derby options trading platform. So you see that the majority of the volume in option contracts are at the $80,000 level. Now that's the majority of the cause. Now the majority of the puts are right around that $40,000 level. You can see here that for Max Payne that Max Payne price target is $52,000. Now remember that the Max Payne is a situation in which the stock price locks in on an option strike price as it nears expiration which would cause financial losses for the highest possible number of option traders. So just cause that Max Payne number is 52,000 doesn't mean that we're gonna hit 52,000. Remember in March the Max Payne number was 44,000 but we only went down to 50. So this month that number is 52,000. So it's definitely a possible case scenario in the next two weeks to see a pullback back down to the 56K level. I would say between 56 to $55,000 would be the possible area for the pullback if it happens similar to these past months if the pattern continues. Remember guys, there's no guarantee that this will or will not happen. I'm just putting that information out there for you guys to decide what you want to do. In Ethereum, as you guys see, we broke out and we hit the exact target that we had set and spoke about on Monday's video. Remember that target was $2,500 and we smashed through it all the way up to 2,550. Not only did we smash this target but we also smashed the previous target that we gave you guys before from this breakout right here which was around that 2,250 area. We broke that and we smashed the next target that we set. So now you guys are probably wondering, okay, what's the next move? So remember this is all going to vary. The new highs are fresh so I need a little bit more information in order to make a decision on that next target. If this is where Ethereum decides to begin to create a bull flag here, then we can guesstimate some sort of really early projection. So if we measure this previous impulse move here from the point of the breakout and put it, try to guess where that next breakout move will be, then that next target is gonna be around that 7,2,700 level. But remember this is all going to vary dependent on what Ethereum does. If it breaks out earlier, then that target could be as high as 2,800. If it breaks out later, the target's gonna be more around that 2,700 level. So it all depends where this breakout happens. Support here for ETH is going to be around that 2,300 level. As you can see, it would be the bottom of this possible channel if it's going to start consolidating within this channel. Beyond that, that first Fibonacci retracement level is going to be around that 2,100 level right down here. But before that, we do have this 2,200 level that we could possibly retest and could possibly hold this up. And of course, as you guys know, depending what happens next week and as the Bitcoin option contracts expire, if Bitcoin starts getting pulled down, this will also pull back with it. So we have to keep that in mind. So so far, we've covered the trade recaps that we gave you guys on Monday. We spoke about why Bitcoin is pulling back today, did an analysis on what it's currently showing and showed you some possible movements for the next two weeks based on some historical data and patterns in the chart from the past. We also covered Ethereum and now we're going to hit you guys with some trade setups for this weekend. Remember guys, if you're enjoying this video, smash that like button. If you have any question, drop it in the comments. And if you guys are new here, please do subscribe. So let's jump into these trade setups. So the first thing that we're watching in Bitcoin is basically a break above this channel. That number is gonna be $62,000. So we're gonna have breakout trades set up above this. So 62K is gonna be a breakout out of this channel, is gonna be a breakout out of this support resistance level and a break of a previous all-time high. So that's gonna be our favorite breakout trade and of course we always have breakout trades set above previous all-time highs. So we'll have breakout trades set above 65K. In the event that we continue down and trading within this channel, that first level that we're looking at for a bounce entry is 60K. As you guys already know, this is the top of that flat top pattern that we broke out of. This is also 60K, which is a big hole number. This was also a very strong resistance which will now be a support. And it's the bottom of this channel and it's a Fibonacci retracement level. So we can definitely say that 60K is going to be a, and should be a strong support. So I'll be looking for bounce entries there. Basically a bounce entry is that I'm not entering while it's falling down. I'm looking for that fake out and then for it to bounce back up. Hence the name bounce entry. In the event that we were to fall beyond that, then 58,000 and 57,000 are the next two areas that I'd be looking at for possible bounce entries. In Ethereum, you see that we're currently trading within what seems to be another bull flag channel. So the first trade that we're gonna be looking for is at the top towards the top of this channel, which could possibly be the breakout above this, which is $2,500. So 2,500 will be the first breakout trade that we're looking at. And then of course we're gonna set trades above the previous all-time high, 2,550. In the event that we continue consolidating and possibly going lower, we're looking at entries close to this, the bottom of this channel. So that level's gonna be 2,300, all the way down to possibly 2,200. If we were to fall below that, then we have a Fibonacci level right here and that's right around that 2,100 level. Below that we have the big $2,000 mark. You can see here that 2,000 has served as a pretty good support area. So I hope you guys enjoyed this video. If you guys did, make sure to smash that like button for the YouTube algorithm as it helps us continue to reach more and more people in the crypto space. If you guys are new here, make sure to hit that subscribe button. It helps us out a ton. This week we broke 7,000 subs. Our next goal is 10K. And if you have any questions about anything covered in this video, drop it below in the comments. I'm always happy to help. I hope you guys have an amazing weekend. I hope these trades hit and we all make tons of profits. And I hope that we all get to hit profits like Doge did here and possibly make 145% in a day or over the weekend. But that's it guys. As always, peace and love.